SEDAR Interim Financial Statements

[
  {
    "companyName": "Rockpoint Gas Storage Inc.",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cashAndCashEquivalents": 0.0,
      "equityAccountedInvestments": 0.0,
      "totalAssets": 0.0,
      "accountsPayableAndAccruedLiabilities": 0.0,
      "shareCapital": 0.0,
      "retainedEarnings": 0.0,
      "equity": 0.0,
      "totalLiabilitiesAndEquity": 0.0,
      "cashPerShare": null,
      "workingCapitalPerShare": null
    },
    "incomeStatement": {
      "shareOfIncomeFromEquityAccountedInvestees": 0.0,
      "generalAndAdministrative": 0.0,
      "earningsBeforeIncomeTaxes": 0.0,
      "incomeTaxExpense": 0.0,
      "netEarningsAndComprehensiveEarnings": 0.0
    },
    "cashFlowStatement": {},
    "investmentsAndOtherAssets": [
      {
        "type": "Equity accounted investment",
        "description": "40% interest in the gas storage operations (the Business) carried on by Swan OpCo and BIF OpCo",
        "ownershipPercentage": 40.0,
        "value": 0.0,
        "notes": "The investment was to be acquired subsequent to September 30, 2025 as described in Note 5."
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited Class A, unlimited Class B, unlimited preferred shares",
      "issuedShares": 1,
      "classesOfShares": ["Class A common shares", "Class B voting shares", "preferred shares"],
      "warrants": [],
      "options": [],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "USD",
      "periods": {},
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": []
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-10-15",
        "description": "Completed initial public offering of 32,000,000 Class A Shares at price of C$22.00 ($15.77) per share for gross proceeds of approximately C$704.0 million ($504.6 million).",
        "impactValue": 504600000
      },
      {
        "eventDate": "2025-10-15",
        "description": "Underwriters exercised over-allotment option to acquire additional 4,800,000 Class A Shares from Brookfield for gross proceeds of approximately C$105.6 million ($75.7 million).",
        "impactValue": 75700000
      },
      {
        "eventDate": "2025-10-15",
        "description": "Issued 79,800,000 Class B Shares to Brookfield Infrastructure Holdings (Canada) Inc. for nominal consideration.",
        "impactValue": null
      },
      {
        "eventDate": "2025-10-15",
        "description": "Acquired 40% interest in the Business from Brookfield in exchange for aggregate consideration of approximately $838.8 million (C$1,170.4 million) satisfied by a cash payment of $504.6 million and issuance of 21,200,000 Class A Shares.",
        "impactValue": 838800000
      },
      {
        "eventDate": "2025-10-15",
        "description": "Entered into a new senior secured revolving credit facility (Revolving Credit Facility) with committed capacity of $350.0 million.",
        "impactValue": 350000000
      },
      {
        "eventDate": "2025-10-29",
        "description": "Became lead borrower on the Term Loan due 2031, with outstanding principal of $1,240.6 million as of September 30, 2025.",
        "impactValue": 1240600000
      }
    ]
  },
  {
    "companyName": "Rockpoint Gas Storage",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cashAndCashEquivalents": 30.5,
      "tradeAndAccruedReceivables": 49.8,
      "naturalGasInventory": 50.3,
      "shortTermRiskManagementAssets": 19.0,
      "marginDeposits": 5.2,
      "prepaidExpensesAndOtherCurrentAssets": 5.7,
      "dueFromAffiliates": 37.0,
      "totalCurrentAssets": 197.5,
      "propertyPlantAndEquipmentNet": 893.7,
      "goodwill": 117.2,
      "longTermRiskManagementAssets": 9.3,
      "otherAssets": 5.9,
      "totalLongTermAssets": 1026.1,
      "totalAssets": 1223.6,
      "tradePayablesAndAccruedLiabilities": 43.9,
      "shortTermDebt": 22.2,
      "shortTermRiskManagementLiabilities": 10.3,
      "shortTermLeaseLiabilities": 8.0,
      "marginDepositsLiabilities": 0.0,
      "deferredRevenue": 0.7,
      "totalCurrentLiabilities": 85.1,
      "longTermDebt": 1204.0,
      "longTermRiskManagementLiabilities": 3.6,
      "longTermLeaseLiabilities": 94.3,
      "gasStorageObligations": 15.4,
      "decommissioningObligations": 5.3,
      "otherLongTermLiabilities": 2.6,
      "deferredIncomeTaxes": 69.2,
      "totalLongTermLiabilities": 1394.4,
      "equity": -255.9,
      "totalLiabilitiesAndEquity": 1223.6,
      "cashPerShare": null,
      "workingCapitalPerShare": null
    },
    "incomeStatement": {
      "feeForServiceRevenue": 188.9,
      "optimizationNet": 18.4,
      "totalRevenues": 207.3,
      "costOfGasStorageServices": 2.3,
      "operating": 25.8,
      "generalAndAdministrative": 10.6,
      "depreciationAndAmortization": 17.0,
      "financingCosts": 52.8,
      "gainOnGasStorageObligationsNet": -2.6,
      "otherExpenses": 3.1,
      "totalExpenses": 109.0,
      "earningsBeforeIncomeTaxes": 98.3,
      "incomeTaxExpense": 4.2,
      "netEarnings": 94.1,
      "otherComprehensiveLossIncomeNetOfTax": 1.0,
      "netEarningsAndComprehensiveEarnings": 95.1
    },
    "cashFlowStatement": {
      "operatingActivities": {
        "netEarnings": 94.1,
        "deferredIncomeTaxExpenseBenefit": 4.2,
        "unrealizedRiskManagementLossesGains": -7.8,
        "depreciationAndAmortization": 17.0,
        "other": 2.4,
        "changesInNonCashWorkingCapital": -15.9,
        "netCashProvidedByOperatingActivities": 94.0
      },
      "investingActivities": {
        "propertyPlantAndEquipmentExpenditures": -20.7,
        "netCashUsedInInvestingActivities": -20.7
      },
      "financingActivities": {
        "proceedsFromRevolvingCreditFacilities": 21.6,
        "paymentsOfRevolvingCreditFacilities": -25.6,
        "proceedsFromTermLoan": 0.0,
        "paymentsOfTermLoans": -6.3,
        "paymentsOfPromissoryNotes": 0.0,
        "notesExtendedToRelatedParties": -37.0,
        "paymentsOfFinancingCosts": -0.2,
        "paymentsOfLeaseLiabilities": -17.4,
        "distributions": -182.8,
        "netCashUsedInProvidedByFinancingActivities": -247.7
      },
      "effectOfTranslationOnForeignCurrencyCashAndCashEquivalents": 0.8,
      "netChangesInCashAndCashEquivalents": -173.6,
      "cashAndCashEquivalentsBeginningOfPeriod": 204.1,
      "cashAndCashEquivalentsEndOfPeriod": 30.5
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Natural Gas Storage Facilities",
        "description": "Property, plant and equipment for gas storage operations including cushion gas, pipelines, wells, land and storage formations, and facilities",
        "ownershipPercentage": null,
        "value": 893.7,
        "notes": "Net book value as of September 30, 2025. Includes facilities in Alberta, Canada and California, USA."
      },
      {
        "type": "Goodwill",
        "description": "Goodwill from business combinations",
        "ownershipPercentage": null,
        "value": 117.2,
        "notes": "Remaining goodwill from acquisitions."
      }
    ],
    "shareStructure": {
      "authorizedShares": null,
      "issuedShares": null,
      "classesOfShares": [],
      "warrants": [],
      "options": [],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "USD",
      "periods": {},
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Brookfield affiliates",
          "description": "Electricity purchases from related utility company",
          "amount": 1.0,
          "period": "Six months ended September 30, 2025"
        },
        {
          "counterparty": "Brookfield parent entity",
          "description": "Unsecured, non-interest-bearing promissory note receivable due on demand",
          "amount": 37.0,
          "period": "As at September 30, 2025"
        },
        {
          "counterparty": "Brookfield Infrastructure",
          "description": "Purchase of BIF II SIM Limited for estimated fair market value",
          "amount": 2.5,
          "period": "Subsequent to September 30, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-10-10",
        "description": "Advanced $40.0 million in cash to Brookfield in exchange for unsecured, non-interest-bearing promissory notes due on demand.",
        "impactValue": 40000000
      },
      {
        "eventDate": "2025-10-14",
        "description": "AECO acquired 100% of equity interests in WGS LP (Warwick Acquisition) and repaid $9.4 million principal balance of Warwick Credit Facility.",
        "impactValue": 9400000
      },
      {
        "eventDate": "2025-10-15",
        "description": "Rockpoint acquired 40% of equity interests in Swan OpCo and BIF OpCo. Public owns 69.2% of Rockpoint, Brookfield 30.8%.",
        "impactValue": null
      },
      {
        "eventDate": "2025-10-15",
        "description": "Entered into new senior secured revolving credit facility (Revolving Credit Facility) with committed capacity of $350.0 million, used to repay Asset Backed Loan.",
        "impactValue": 350000000
      },
      {
        "eventDate": "2025-10-24",
        "description": "Entered into new interest rate swap contracts to hedge Term Loan due 2031, locking in blended 3.40% SOFR rate.",
        "impactValue": null
      },
      {
        "eventDate": "2025-10-29",
        "description": "Repriced Term Loan due 2031, reducing interest rate for SOFR loans from SOFR + 3.00% to SOFR + 2.50%.",
        "impactValue": null
      }
    ]
  }
]